The stock has reached lower trendline and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby. Risk Reward Ratio - 2:1 SL is placed below support zone & the lower trendline. The target is placed near resistance. Market is bearish, so take positions carefully.
MIDCAP - GO SHORT @ CMP WITH A SL OF 12675 AND A TARGET OF 12121 BY 13 APRIL AND A FINAL TARGET OF 11289
MIDCAP - BUY @ 12026 WITH A SL OF 11976 AND A TARGET OF 12500. TARGET SHOULD BE COMPLETED TOMORROW. RR> 1:9. GO SHORT AS SOON AS IT REACHES THE TARGET
MIDCAP : GO LONG @ CMP WITH A SL OF 11207 AND A TARGET OF 12361
MIDCAP HAS BROKEN THE NECKLINE IF HEAD AND SHOULDERS. CAN WE SEE THIS INDEX @ 8000
The major weakness is part of a first down leg on the weekly chart. Support comes in around 1455 (lower part of the cloud) and 1445 (38.2% retracement). Setting a minor and intermediate base in this area is probable before the corrective phase continues. So even though a minor bounce and/or consolidation can be expected once reached, we strongly advise against any...